Crage gets hire contract
JUST months after his attempt to take control of listed computer hire firm Hire Intelligence failed, that company has extended managing director Tom Crage’s executive service agreement until the end of 2006.
Mr Crage planned to take control and then delist the company but failed because he could not attract enough shares.
According to its trading update Hire Intelligence is expecting slightly higher earnings before interest tax depreciation and amortisation than the previous year, partly due to the $400,000 it received for the sale of its UK master franchise.
The company is now expecting a $3.1 million result.
Mr Crage said company-owned outlets had increased their rental income by a third for the 10 months to April 30, compared to the same period last year, while franchisees’ rental income rose by 2.8 per cent.
However, that rental growth rate in company-owned outlets has started to slow over the past few months.
The company has also terminated one Irish franchise agreement and its Philippines franchise agreements.